China’s economic growth reaches 7.1 percent in Q1

China’s economy growth hit 7.1 percent in the first quarter this year,
up 2.1 percentage points over the previous quarter, with a total value
of 9.6 trillion RMB (1.46 trillion USD), according to the National
Bureau of Statistics of China.

In March, China
’s consumer price index (CPI) was up 5.4 percent against the same
period last year, the highest level in the recent 32 months.

The CPI, which was considered as one of three factors to promote
Chinese economic growth, contributed about 37 percent to the national
Gross Domestic Product (GDP) in 2010.

The other two
factors including investment and foreign trade also gained great growth
in the first quarter. Total foreign trade turnover was about 800
billion USD, up 29.5 percent over the same period last year.

This year, China set the goal to gain a GDP growth rate of 8 percent./.